The Best Way to Buy Timeshare Resales
Timeshare resales cost less than purchasing from the resort developer. However, resale timeshare buyers need to be cautious when buying them and should personally check out the timeshares before investing on them. It’s advisable not to rely only on what the timeshare resellers say, you also need to know about the property taxes and maintenance fees of the timeshares.
Most of the timeshares immediately depreciate on the resale market, so, it mostly makes little sense to buy them directly from the developer. As much as that isn’t good for the original buyer, It’s a great one for the buyer.
You may come across timeshares being sold at a 25-75% discount in the resale market and even some sure-fire discounted prices as high as 90% from the original developer’s price. There are a wide range of options for buying a resale timeshare. eBay contains numerous timeshares on their own auction site and it’s one good place one can pick up bargains but you may also opt for your local paper’s real estate section, various website as well as some timeshare forums where timeshare owners purchase and/or trade with one another.
Something that you should have in mind is that you don’t wish to be paying for the owner’s inflated sense of their timeshare’s value, therefore, you should first do some research. In the event that you decide not to use eBay, it is worth checking out completed auctions so as to get a clue of resort prices that you could be interested in buying.
Moreover, if you choose to shop from the website of timeshare resale, you need to find out if they make sales. A lot of timeshare owners tend to hand them over to what is referred to as “postcard companies”. Such companies charge an upfront fee and then they post it on their website at very unrealistic asking prices. They don’t even care if they will be able to sell the property since they have already made their money by collecting those upfront fees from the owners. If a website’s listing looks stale and doesn’t seem to change, do not bother to make an offer because you probably won’t get the best deal.
Ensure that you negotiate before buying the timeshares. Besides eBay, you will realize that purchasing a timeshare is almost similar to buying a house. The asking price is subject to negotiation. If the owner has been attempting to sell them for long and is also hoping to avoid the yearly maintenance fee, then you could get a great deal. For this reason, you will probably notice that you get the best deals in November and December, just before the due time for payment of the annual maintenance fee.